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Shares of Hibbett Sports (HIBB) - Get Free Report were soaring Friday after the sporting goods retailer handily beat fourth-quarter earnings estimates. 

The $329 million market-cap company with 1,025 retail stores saw its stock rise 20.29% to $21.70 a share. 

Earnings were $6.6 million, or an adjusted 57 cents per share, easily beating analysts' estimates of 39 cents. Revenue was $306 million, beating estimates of $280 million. Same-store-sales rose 3.8% vs. analysts' expectations that the metric would be flat year over year. 

Hibbett said it will close 95 Hibbett stores by 2020, open 10 to 15 CityGear stores, and focus on its e-commerce strategy. 

Management noted that a major part of the strong quarter was, indeed, a strong e-commerce revenue segment.

"We are quite pleased with the fourth-quarter results, which were driven by significant progress on our strategic initiatives along with compelling assortments from our key vendors," said Jeff Rosenthal, president and CEO. "Our omni-channel initiative continues to deliver strong results, with online sales increasing 60% to 10.6% of total sales in the quarter." 

The company guided for 2020 adjusted EPS of between $1.80 and $2, which strips out costs associated with opening the CityGear stores. Hibbett expects same-store-sales growth to be down 1% and to 1% for 2020. 

The stock has risen 20% so far this year. 

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